Thread: Bailing out the Detroit automakers
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Old 11-24-2008, 12:18 PM
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Quote:
Originally Posted by Piney View Post
I have many of the same concerns that Sandgk has. While I would love to see the Big 3 all fail, use Chapter 11 and restructure to become stronger and without alot of the inheirant debt associated with the past. The problem is while those albatrosses are shed new ones come forward. The first one I can think of is in this current credit crunch how could a company coming out of Chapter 11 get ANY credit would be a huge burden by going through that process.
That's why the govt could offer to fund restructuring money if and only if the 11 takes away the union and dealership contractual mess. The US would be pushing them toward bankruptcy, but a lot of painful things are in our future. The complete elimination of the auto industry cannot be one of them.
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